Plum Superannuation Fund

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Plum Superannuation Fund is a provider of superannuation products.

“Simplicity. Education. Action. Success.”

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If you’re considering Plum Superannuation Funds, compare them with other superannuation funds, click here.

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What Plum Superannuation offers

The inclusions below represent a selection of what is covered. Additional conditions may apply to different features. CANSTAR is not making any suggestion or recommendation to you about this product. Please ensure that you read the product disclosure statement to determine all the current policy options and inclusions for the product you are considering.

Plum Personal Plan

  • 46 managed funds available within super.
  • Unlimited free investment switches.
  • Life insurance, TPD insurance, and income protection insurance available within super.
  • Online access to account details.
  • Financial advice available.

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How to join Plum Super

You can sign up for a Plum Super account online or call 1300 557 586 (open Mon-Fri).

Keep our tips in mind for how to choose a super fund, and always read the product disclosure statement (PDS) before you sign up for any superannuation product.

Remember to consider consolidating all of your super savings into one account. Find out how to find your lost super and how to consolidate your super. Before consolidating, check what insurances you have with each fund. Moving super from one fund to another could mean you lose some insurances, some of which you might not have known about but could really find handy if something were to happen to you.

Finally, tell your employer that you’ve joined Plum Super. Your employer will give you a choice of super fund form that you will need to sign and return to them.

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How do the fees on Plum Super compare to other funds?

The table above shows the total fee cost to have a Plum Super account per year. Compare these fees to the average super fund fees on our database.

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Does Plum Super offer an ethical investment option?

At the time of writing, Plum Super offers one ethical investment option in the Plum Personal Plan: Australian Shares – Ethical. This investment option uses positive and negative screening. It invests in Australian shares in socially responsible companies, and excludes companies that earn a material portion of their income from alcohol, tobacco, gambling, uranium mining, or weapons and arms dealing.

Find out more about ethical super investment options here. Some ethical super funds screen out companies that harm humans or the environment, while other ethical super funds invest only in companies whose social and corporate responsibility approach makes a positive impact in environmental and social areas. You don’t have to settle for a super fund where money is the bottom line; ask your super fund whether they offer ethical investment options.

How can I track the growth of my Plum Super account?

Members can track and manage the growth of their super account using the Plum Online website. Members can also find out the current balance of their super account in their annual statement, or by calling the Plum on 1300 557 586 (open Mon-Fri).

What should I check on my Plum Super statement?

Be sure to check these 9 things on your superannuation statement:

  • Personal details are up-to-date
  • Nominated beneficiaries are up-to-date
  • Tax File Number (TFN) is recorded
  • Super contributions from employer and/or your voluntary contributions are correct
  • Investment asset class choices are appropriate for your life stage
  • Amount paid in fees
  • Insurance still adequate
  • Super is consolidated, after checking whether there is insurance or any other benefits attached to the account you may lose and you’re comfortable to do so
  • The big picture – are you happy with your super fund overall?

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When can I access my Plum Super?

You can access your super at age 65, but it could be earlier at what’s known as your preservation age, which can be from 55 years up to 60 years depending on what year you were born. To access your super, typically you need to have permanently decided to stop working, or have left an employer after turning 60. Earlier access to your super is possible in certain circumstances, such as:

  • If your home is being repossessed
  • Cases of severe financial hardship
  • On compassionate grounds if you or your dependant is diagnosed with a terminal illness needing palliative care, or if you are temporarily or permanently unable to work or need to work less hours due to a physical or mental medical condition, or if you are disabled and need to modify your home or car to meet your needs, or if you need help to pay for the funeral expenses of a dependant
  • If your super balance is less than $200

Can I get the Age Pension as well as Plum Super?

You may be able to receive a full or part-pension from Centrelink depending on your level of assets (including super and account-based pension balance) and income (including from any account-based pension you may have and how much income your super is assumed to be able to pay you).Find out how the Age Pension works and how much you can receive in super before your pension is affected.

About Plum Super

Plum was founded in 1998 in Melbourne and provides superannuation solutions for medium and large Australian organisations. Plum is a subsidiary of MLC Limited.

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If you’re considering top performing superannuation funds, check out the following table which contains details of the superannuation funds rated by Canstar. This table has been sorted by one-year performance (highest to lowest).

Please note that the performance information shown in the table is for the investment option used by Canstar in rating of the superannuation product.

This information has been prepared without taking into account your individual investment objectives, financial circumstances or needs. Before you decide whether or not to acquire a particular financial product you should assess whether it is appropriate for you in the light of your own personal circumstances, having regard to your own objectives, financial situation and needs. You may wish to obtain financial advice from a suitably qualified adviser before making any decision to acquire a financial product. CANSTAR provides information about superannuation products. It is not a superannuation provider and in giving you information it is not making any suggestion or recommendation to you about a particular credit product. Please refer to CANSTAR’s FSCG for more information.

Written by: TJ Ryan | Last updated: March 7, 2017

Compliance Disclosure and Liability Disclaimer

This information has been prepared without taking into account your individual investment objectives, financial circumstances or needs. Before you decide whether or not to acquire a particular financial product you should assess whether it is appropriate for you in the light of your own personal circumstances, having regard to your own objectives, financial situation and needs. You may wish to obtain financial advice from a suitably qualified adviser before making any decision to acquire a financial product. CANSTAR provides information about superannuation products. It is not a superannuation provider and in giving you information it is not making any suggestion or recommendation to you about a particular credit product. Please refer to CANSTAR’s FSCG for more information.

The Star Ratings in this table were awarded in September 2016. The search results do not include all providers and may not compare all features relevant to you. View the CANSTAR Superannuation Star Ratings Methodology and Report. These results are general advice only and not personal financial advice. Ratings are only one factor to take into account when deciding whether to make an investment. Consider the Product Disclosure Statement before making a purchase decision.

Sponsored products displayed are paid advertisements and CANSTAR receives a fee for referring you to the advertiser. Past performance is not necessarily a guide to future performance; unit prices may fall as well as rise. Performance information shown is for the historical periods up to 30/06/2016 and investment options noted in the product information. Performance figures shown reflect net investment performance, i.e. net of investment tax, investment management fees and the maximum applicable ongoing management fees and membership fees. Performance information is provided by Rainmaker Information Pty Ltd ABN 86 095 610 996 AFSL 461816 (www.rainmaker.com.au) which provides general information on superannuation. Any advice on this page is general and has not taken into account your objectives, financial situation or needs and is not a recommendation for your particular circumstances. Consider whether this advice is right for you. Consider the product disclosure statement before making a purchase decision. You may need financial advice from a qualified adviser.